The head of the Kyrgyz Cabinet of Ministers, Akylbek Zhaparov, has said that thanks to the fruitful work of the government, “a new era in the financial sector of the Kyrgyz Republic has begun.”
During a conference, which was attended by ministers, deputies, officials of various levels, representatives of the World Bank, Asian Development Bank, and other international organizations, Zhaparov spoke about the new monetary policy.
According to him, in 2020, the consolidated budget amounted to 247.8 billion KGS ($2.8 billion), whereas in 2024, the budget is estimated at 670 billion KGS ($7.6 billion). In four years, the authorities were able to increase the state budget by almost 400 billion som ($4.5 billion).
“The reason for such achievements was the elimination of corruption. The main disease was the Kumtor deposit. Dividends received from it from 1994 to May 2021 amounted to $100 million. Over the past two and a half years, we have made a profit of $300 million,” Zhaparov said.
The head of the Cabinet emphasized that Kyrgyzstan’s GDP has reached 1.4 trillion som ($15.9 billion), while at the time of the collapse of the USSR and independence, the republic’s GDP was only 100 million som ($1.1 billion). “The growth of state budget revenues has become a solid basis for the implementation of policies to improve the socioeconomic situation of citizens,” Zhaparov summarized.
